Glossary 1.4_1.5
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Profit
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Effectiveness
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Efficiency
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Performance indicators
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Benchmarking
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Best practice
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Stakeholders
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Shareholders
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Ethics
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
Triple Bottom Line
???
Performing a task at the lowest possible cost, using the minimum quanties of resources in the quickest time (time, cost and effort)
Owners of a company who receive share in profits made through dividends, bonus shares and higher share values
The difference between what is earned from selling goods or services and the cost of producing those goods and services
Financial performance + environmental performance + social responsibility as measures of success
Criteria used to evaluate success
Includes shareholders, investors, staff, suppliers, customers and Government who have an interest (stake) in an organisation's success
Doing things right! ie the organisation's ability to satisfactorily set and achieve objectives
The process of comparing its achievements with similar work in other organisations so that they can assess their own performance against this data.
The most efficient or effective way of doing something. Leading the way on how to do something.
Moral standards or principles that guide decisions and actions
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